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S. Korea sells US$1 bln of FX stabilization bonds

2018/09/14 08:43

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SEJONG, Sept. 14 (Yonhap) -- South Korea's finance ministry said Friday that it has sold US$1 billion worth of foreign exchange stabilization bonds with demand from investors being the strongest-ever.

The dual-tranche U.S. dollar-denominated bonds with maturities of 10 years and 30 years reflects investors' strong confidence in the South Korean economy, the ministry said.

The $500 million worth of bonds with 10-year maturities were sold at 3.572 percent, some 60 basis points over similar-maturity U.S. Treasuries. The other bonds with 30-year maturities were priced at 3.957 percent, 85 basis points over 30-year U.S. Treasurys, according to the ministry.

The FX bonds are sold to secure reserves against volatility in the currency market.

The Ministry of Economy and Finance at the government complex in Sejong, South Korea (Yonhap) The Ministry of Economy and Finance at the government complex in Sejong, South Korea (Yonhap)

sam@yna.co.kr

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